{"id":640642,"date":"2024-08-29T00:00:00","date_gmt":"2024-08-29T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/?post_type=issue&#038;p=640642"},"modified":"2025-12-17T17:05:38","modified_gmt":"2025-12-17T17:05:38","slug":"egyptian-startups-raised-usd-88-7-mn-in-1h-2024-driven-by-local-regional-investors","status":"publish","type":"issue","link":"https:\/\/enterpriseam.com\/egypt\/issues\/egyptian-startups-raised-usd-88-7-mn-in-1h-2024-driven-by-local-regional-investors\/","title":{"rendered":"Egyptian startups raised USD 88.7 mn in 1H 2024, driven by local, regional investors"},"content":{"rendered":"<section id=\"640644\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                story-section            \"\r\n            id=\"640644\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">1<\/div>\r\n\r\n                    <p class=\"f-graphik\">What We're Tracking Today<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/08\/29\/govt-wants-to-commit-to-monthly-payments-to-foreign-fossil-fuel-players-in-bid-to-boost-production\/\">\r\n                            Gov\u2019t wants to commit to monthly payments to foreign fossil fuel players in bid to boost production                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a 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data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/835.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"835.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/835.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/835.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-640644\" class=\"content-area-description single-story post-640644 post type-post status-publish format-standard has-post-thumbnail hentry category-what-were-tracking-today tag-energy tag-enterpriseam tag-oil-and-gas tag-what-were-tracking-today wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<aside>\t\t\t<div\r\n\t\t\t\t\t\t\t\tclass=\"newspack-popup-container newspack-popup hidden  newspack-inline-popup  newspack-lightbox-no-border   \"\r\n\t\t\t\trole=\"button\"\r\n\t\t\t\ttabindex=\"0\"\r\n\t\t\t\tstyle=\"background-color:#FFFFFF;color:#000\"\r\n\t\t\t\tid=\"id_27645\"\r\n\t\t\t\tdata-segments=\"\"\r\n\t\t\t\tdata-frequency=\"0,0,0,month\"\r\n\t\t\t>\r\n\t\t\t\t\n<div class=\"wp-block-group has-light-gray-background-color has-background\" style=\"padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px\"><div class=\"wp-block-group__inner-container is-layout-constrained wp-container-core-group-is-layout-ef38739e wp-block-group-is-layout-constrained\">\n<div class=\"wp-block-group is-content-justification-center is-nowrap is-layout-flex wp-container-core-group-is-layout-94bc23d7 wp-block-group-is-layout-flex\">\n<p class=\"f-graphik\" style=\"font-size:14px\">Together with<\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><img decoding=\"async\" src=\"https:\/\/s3.amazonaws.com\/resources.inktankir.com\/internal\/27482.svg\" alt=\"\" class=\"wp-image-27482\"\/><\/figure>\n<\/div><\/div>\n<\/div><\/div>\n\t\t\t<\/div>\r\n\t\t<\/aside>\n<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/8\/.284c0afd-a36f-4e22-85a5-a281658fc770.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Good morning, everyone.<\/strong> It seems the weekend has started off early in Egypt, with only a trickle of local business news coming our way. However, across the pond in the US of A, the business cycle is in full swing with all eyes on Wall Street as it reacts to Nvidia\u2019s hotly anticipated earnings that were released late last night.<\/p><p class=\"tag-border-left\">WATCH THIS SPACE-<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <a id=\"wwtt1\"><\/a> <strong>#1- The government wants to commit to monthly payments to foreign<\/strong><strong> oil and gas companies in bid to boost investor appetite: <\/strong>Work is underway to make it possible for the government to commit to monthly payments to foreign companies working in the oil and gas sector, according to a cabinet <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid0NiPcKaCzbcmMyi3EbnaQFxTERYBwwkxvCQvzVcauSmUFLM6EY3k3XGAJ3icc6Ddfl\" style=\"\" rel=\"noopener\">statement<\/a> out yesterday. The initiative comes as part of government efforts to ramp up production by incentivizing increased production and exploration of fossil fuels. New state <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/b79bcd3f-c14a-41e5-9ab7-50aa37b78975\" style=\"\" rel=\"noopener\">incentives<\/a> for oil and gas companies announced earlier this week also include offering foreign companies higher prices for the gas that they produce from their concessions. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Why all the energy incentive news this week? <\/strong>Prime Minister Moustafa Madbouly announced last week that the oil minister <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/08f8054f-8a68-4f0d-a4bc-a647c1ca7739\/madbouly-announces-ambitious-renewables-plan,-tax-reforms\" style=\"\" rel=\"noopener\">has been tasked<\/a> with meeting with foreign energy players with the aim of boosting local production starting early 2025. After months of blackouts and then coughing up USD 1.2 bn to put a temporary halt to outages over the summer months, the government has been noticeably more proactive in its efforts to try to get local energy production rates back on the up.<\/p><hr style=\"height:2px;border-width:0;color:gray;background-color:gray\"><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt2\"><\/a>  <strong>#2- Work is underway to streamline customs, tax procedures for auto manufacturers:<\/strong> The Finance Ministry will set up a central unit to facilitate customs and tax procedures for companies involved in automotive manufacturing under a decision issued by the Finance Minister, the Egyptian Tax Authority (ETA) <a target=\"_blank\" href=\"https:\/\/eta.gov.eg\/ar\/news\/qrar-wzyr-almalyt-rqm-335-lsnt-2024\" style=\"\" rel=\"noopener\">said<\/a> in a statement. Entities that the unit will cater to include assembly companies, feeder industries, and any other entities participating in the Automotive Industry Development Program (AIDP). The unit will consist of representatives from the ETA and the Customs Authority.<\/p><p class=\"tag-border-left\">PSA-<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>WEATHER- It\u2019s a little cooler in Cairo today<\/strong>, with a high of 34\u00b0C and a low of 26\u00b0C \u2014 and even a small chance of light rain \u2014 according to our favorite weather app.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>It\u2019s more of the same in Alexandria and along the coast<\/strong>, with a high of 33\u00b0C and a low of 23\u00b0C.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>And over the weekend, <\/strong>expect to see the slightly cool weather to carry on in the capital and on our northern shores.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>** DID YOU KNOW that we now cover <\/strong><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\" style=\"\" rel=\"noopener\">Saudi Arabia<\/a><\/strong><strong> and the <\/strong><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\" style=\"\" rel=\"noopener\">UAE<\/a><\/strong><strong>?<\/strong><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>** Were you forwarded this email?<\/strong> <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/user\/news-letters\" style=\"\" rel=\"noopener\">Tap or click here<\/a> to get your own copy delivered every weekday before 7am Cairo time \u2014 without charge.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a href=\"http:\/\/finance2024.enterprise.news\/\" target=\"_blank\" rel=\"noopener\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/8\/2248.jpg?ssl=1\"><\/a> <\/p><p class=\"tag-border-left\">HAPPENING TODAY-<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt3\"><\/a> <strong>UK-Egypt trade, investment is top of the agenda<\/strong><strong>: <\/strong>Our friends at HSBC, together with the Egyptian-British Chamber of Commerce (EBCC) and UK Export Finance (UKEF), will host a <strong>webinar<\/strong> today to discuss how to <strong>support infrastructure reforms<\/strong>, potential partnerships in Egypt, and ways to support and connect companies around the world. The webinar will take place from 12-1pm CLT \/ 1-2pm UAE. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Want to attend? <\/strong><strong><a target=\"_blank\" href=\"https:\/\/events.teams.microsoft.com\/event\/fb12ff09-d43c-4110-ad74-0205386e5d86@3f483e1d-3dcb-4ff0-99f1-51ff77073440\" style=\"\" rel=\"noopener\">You can sign up here<\/a><\/strong><strong>.<\/strong> <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The webinar is a scene-setter for the Egypt-UK Investment and Opportunities Forum in<\/strong> <strong>London<\/strong> on Monday, 16 September. The gathering \u2014 which follows on from a <a target=\"_blank\" href=\"https:\/\/www.the-ta.com\/upcoming-events\/construction-industry\/\" style=\"\" rel=\"noopener\">June<\/a><a target=\"_blank\" href=\"https:\/\/www.the-ta.com\/upcoming-events\/construction-industry\/\" style=\"\" rel=\"noopener\">infrastructure mission<\/a> \u2014 will focus on promoting trade and investment in infrastructure, with an emphasis on green hydrogen and renewables as well as sectors including the auto industry, food processing, and tech. The forum will also include both open panels and pre-arranged business-to-business networking. It will also give attendees the chance to meet with government officials and industry leaders. GAFI will be on hand to deliver an economic update. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Want to join them in London? <\/strong><a target=\"_blank\" href=\"https:\/\/www.the-ta.com\/upcoming-events\/egypt-uk-investment-forum-16th-sept-in-london-uk\/\" style=\"\" rel=\"noopener\">Register your interest in attending the event here<\/a>.<\/p><div class=\"row\">\n<div class=\"col-md-12 subscribe-box-panel\">\n<div class=\"\">\n<div class=\"title\">\n<h4 class=\"fw-lighter mb-10\">   Get <b style=\"font-weight: 700\">Enterprise<\/b> daily   <\/h4>\n<\/div>\n<p class=\"mb-10\">The roundup of news and trends that move your markets and shape corporate agendas delivered straight to your inbox.<\/p>\n<p>  <a target=\"_blank\" href=\"\/egypt\/en\/user\/NewsLetters\" type=\"button \" class=\"btn-green px-3 d-flex align-items-center\" rel=\"noopener\">Subscribe here<\/a>  <\/p><\/div>\n<\/div>\n<\/div><p class=\"tag-border-left\">CIRCLE YOUR CALENDAR- <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt4\"><\/a> <strong>Egypt-Iraq investments, trade, partnerships incoming: <\/strong>An Egyptian delegation, led by Industry and Transport Minister Kamel El Wazir, is set to land in Iraq on 9 September to finalize a number of strategic partnerships between companies from both countries, <a target=\"_blank\" href=\"https:\/\/www.asharqbusiness.com\/financing-and-investment\/52171\/%D9%85%D8%B5%D8%B1-%D8%AA%D8%B3%D8%AA%D9%87%D8%AF%D9%81-%D8%B1%D9%81%D8%B9-%D8%A7%D9%84%D8%AA%D8%A8%D8%A7%D8%AF%D9%84-%D8%A7%D9%84%D8%AA%D8%AC%D8%A7%D8%B1%D9%8A-%D9%85%D8%B9-%D8%A7%D9%84%D8%B9%D8%B1%D8%A7%D9%82-%D8%A5%D9%84%D9%89-%D9%85%D9%84%D9%8A%D8%A7%D8%B1-%D8%AF%D9%88%D9%84%D8%A7%D8%B1\/\" style=\"\" rel=\"noopener\">Asharq Business<\/a> reports, citing Federation of Chambers of Commerce Secretary-General Alaa Ezz. Egypt is looking to boost its trade with Iraq by 41% y-o-y to reach USD 1 bn in 2025, one unnamed government official said. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>There\u2019s a lot of interest in the Iraqi market: <\/strong>Egyptian companies expressed interest in Iraq\u2019s pharma, infrastructure, and construction sectors during Iraqi Prime Minister Mohammed Shia' Al Sudani\u2019s <a target=\"_blank\" rel=\"noopener\">recent visit<\/a> to Egypt. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Remember: <\/strong>Earlier this summer, it was reported that the Iraqi Health Ministry is holding discussions with Egyptian contractors to take part in <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/ac6a40f0-863f-44a1-a7ee-3a9354377001\/north-petroleum-to-boost-production-from-western-desert-block.-plus:-news-from-harbour-energy,-alfa-trans,-mal-bazaar,-instapay\" style=\"\" rel=\"noopener\">revamping 12 hospitals<\/a> with an estimated cost of USD 480 mn<strong>.<\/strong><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/\" style=\"\" rel=\"noopener\">Check out our full calendar on the web<\/a><\/strong> for a comprehensive listing of upcoming news events, national holidays and news triggers.<\/p><p class=\"tag-border-left\">THE BIG STORY ABROAD- <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The international business press is uniformly leading its front pages this morning with <\/strong><strong>Nvidia\u2019s earnings<\/strong>, which we unpack in Planet Finance, below. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Also getting prominent coverage this morning:<\/strong> Telegram CEO and founder Pavel Durov was charged in France for being complicit in the spread of inappropriate images of children on the platform, in addition to complicity in illicit transactions, fraud, and drug trafficking. Durov was also charged with failure to comply with authorities on investigations into illegal activities happening on Telegram. French authorities ordered Durov to post EUR 5 mn bail and banned him from leaving the country. Durov was arrested on arrival in France earlier this week. (<a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-08-28\/telegram-ceo-charged-in-france-for-alleged-criminal-use-of-app\" style=\"\" rel=\"noopener\">Bloomberg<\/a> | <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/750b2fe4-5a1f-4484-a193-bb23e1b6475d\" style=\"\" rel=\"noopener\">Financial Times<\/a> | <a target=\"_blank\" href=\"https:\/\/www.wsj.com\/world\/europe\/telegram-ceo-pavel-durov-charged-french-authorities-43a125a2?mod=hp_lead_pos9\" style=\"\" rel=\"noopener\">Wall Street Journal<\/a> | <a target=\"_blank\" href=\"https:\/\/www.washingtonpost.com\/technology\/2024\/08\/28\/telegram-durov-indicted\/\" style=\"\" rel=\"noopener\">Washington Post<\/a> | <a target=\"_blank\" href=\"https:\/\/www.nytimes.com\/2024\/08\/28\/business\/telegram-ceo-pavel-durov-charged.html\" style=\"\" rel=\"noopener\">New York Times<\/a>)<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>PLUS- OpenAI is in talks for another funding round that would give the ChatGPT maker a <\/strong><strong>valuation of more than USD 100 bn<\/strong>, the Wall Street Journal reported. OpenAI is currently valued at USD 86 bn. The company is in talks with Thrive Capital \u2014 which alone could invest USD 1 bn \u2014 and other investors for its first funding round since the release of ChatGPT in early 2023. <a target=\"_blank\" href=\"https:\/\/www.cnbc.com\/2024\/08\/28\/openai-in-talks-to-raise-funding-that-would-value-it-at-more-than-100-billion.html\" style=\"\" rel=\"noopener\">CNBC<\/a> and the <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/0609abe8-48bb-48f3-8504-10d7af66fb57\" style=\"\" rel=\"noopener\">Financial Times<\/a> also have the story. <\/p>\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/energy\/\">energy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/oil-and-gas\/\">oil and gas<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/what-were-tracking-today\/\">What We&#039;re Tracking Today<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"640646 advertiser\" class=\"issue-section enterprise-adv\">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                            \"\r\n            id=\"640646\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/08\/29\/640646\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-640646\" class=\"content-area-description single-story post-640646 post type-post status-publish format-standard hentry category-advertiser wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><span style=\"font-weight:400;\"><a href=\"https:\/\/somabay.com\/\" target=\"_blank\" rel=\"noopener\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/8\/1807.jpg?ssl=1\"><\/a><\/span><\/p>\n<div class=\"grouped-tags\">\n<p><span style=\"font-weight:700\">Beauty unveiled amidst ancient wonders: <\/span><span style=\"font-weight:400;\">Celebrate the beauty, nature, and cultural legacy of 30 nations as Miss Elite 2024 returns to the enchanting shores of Somabay from 2-14 September. For the fourth consecutive year, Somabay is hosting this prestigious international beauty pageant, celebrating women&rsquo;s beauty and intelligence on a global scale. Experience the fusion of antiquity and modern elegance by attending the Grand Finale on 13 September at Mazeej Soma Beach Platform.<\/span><\/p>\n<\/div>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"640647\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                story-section            \"\r\n            id=\"640647\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">2<\/div>\r\n\r\n                    <p class=\"f-graphik\">Startup watch<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/08\/29\/egyptian-startups-raised-usd-88-7-mn-in-the-first-half-of-2024\/\">\r\n                            Egyptian startups raised USD 88.7 mn in the first half of 2024                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/08\/29\/egyptian-startups-raised-usd-88-7-mn-in-the-first-half-of-2024\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); navigator.clipboard.writeText('https:\/\/enterpriseam.com\/egypt\/2024\/08\/29\/egyptian-startups-raised-usd-88-7-mn-in-the-first-half-of-2024\/')\">\n                    Copy Link                <\/a>\n\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https:\/\/enterpriseam.com\/egypt\/2024\/08\/29\/egyptian-startups-raised-usd-88-7-mn-in-the-first-half-of-2024\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=Egyptian startups raised USD 88.7 mn in the first half of 2024&url=https:\/\/enterpriseam.com\/egypt\/2024\/08\/29\/egyptian-startups-raised-usd-88-7-mn-in-the-first-half-of-2024\/\">\n                    X                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/twitter-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/shareArticle?mini=true&url=https:\/\/enterpriseam.com\/egypt\/2024\/08\/29\/egyptian-startups-raised-usd-88-7-mn-in-the-first-half-of-2024\/&title=Egyptian startups raised USD 88.7 mn in the first half of 2024\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=Egyptian+startups+raised+USD+88.7+mn+in+the+first+half+of+2024+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2024%2F08%2F29%2Fegyptian-startups-raised-usd-88-7-mn-in-the-first-half-of-2024%2F\">\n                    WhatsApp                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/whatsapp-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n        <\/ul>\n    <\/div>\n        <\/div>\r\n                    \r\n                <\/div>\r\n\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/08\/29\/egyptian-startups-raised-usd-88-7-mn-in-the-first-half-of-2024\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/8\/2568.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"640648\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/08\/29\/egyptian-startups-raised-usd-88-7-mn-in-the-first-half-of-2024\/2568-jpg-16\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/8\/2568.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"2568.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/8\/2568.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/8\/2568.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-640647\" class=\"content-area-description single-story post-640647 post type-post status-publish format-standard has-post-thumbnail hentry category-startup-watch tag-enterpriseam tag-entlaq tag-startup-watch tag-startups wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/8\/.fb47ee66-0480-4ffe-98ba-a9e7d54a5144.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>A health check on Egypt\u2019s startup scene in 1H 2024: <\/strong>The first half of 2024 was a turbulent one, with exchange rate instability, the float of the EGP, and rising interest rates. Many sectors found themselves struggling to keep up with the rapidly-changing macroeconomic conditions of the country, but how did the startup scene fare? <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>By the numbers: <\/strong>Local startups raised a combined USD 88.7 mn across 39 transactions during the first half of the year, according to data compiled by Cairo-based think tank Entlaq for its <a target=\"_blank\" href=\"https:\/\/www.entlaq.com\/report-page24.html\" style=\"\" rel=\"noopener\">Egyptian<\/a><a target=\"_blank\" href=\"https:\/\/www.entlaq.com\/report-page24.html\" style=\"\" rel=\"noopener\">Entrepreneurship Sector Diagnostics Report<\/a> that dives into the trends that drove the startup scene during the six-month period.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The bigger picture: <\/strong>Egypt currently houses over 2.1k startups with a total valuation of more than USD 8 bn. The country\u2019s startup ecosystem employs over 50k people. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Who received the lion\u2019s share of the funds? <\/strong>One of the biggest funding rounds the local startup scene saw this year was F&amp;B logistics startup <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/171093df-3191-4d07-a567-5d690b0079ad\/%253cmark%253eoneorder%253c%2Fmark%253e-raises-usd-16-mn-in-a-series-a-round-ahead-of-gulf-expansion\" style=\"\" rel=\"noopener\">OneOrder raising USD 16 mn<\/a> in a series A round. Other startups that received big funds during the period include pharma delivery startup Yodawy, which raised <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/8544fe36-8fdd-47bf-ac0f-ce4c32b8859c\/ezdehar-acquires-minority-stake-in-local-pharma-delivery-startup%253cmark%253e-yodawy%253c%2Fmark%253e-with-usd-10-mn-investment\" style=\"\" rel=\"noopener\">USD 10 mn<\/a> from Egypt-based private equity firm Ezdehar Management, fintech Connect Money, which <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/0b008637-2e4b-450b-9db1-8456f99ceee9\/%253cmark%253econnect-money%253c%2Fmark%253e-secures-usd-8-mn-in-seed-funding-to-expand-its-range-of-banking-services-in-north-africa\" style=\"\" rel=\"noopener\">raised USD 8 mn in seed funding<\/a>, and Sahl, which closed <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/86d680ec-4a5f-47b4-a577-dd9163745567\/fintech-player%253cmark%253e-sahl%253c%2Fmark%253e-closes-usd-6-mn-in-funding-round-led-by-the-state%25e2%2580%2599s-ayady-investments\" style=\"\" rel=\"noopener\">a USD 6 mn funding round<\/a> led by the government\u2019s Ayady for Investment and Development.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Who contributed the funds? <\/strong>Among the top local investors were Acasia Ventures, Ezdehar, and Nahdet Misr\u2019s VC armEdVentures, while the top foreign investors included Saudi\u2019s Sukna Ventures and Nigeria-based Ingressive Capital.<\/p>\n<p class=\"tag-border-left\">FLUCTUATIONS THROUGHOUT THE YEAR- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Despite the large number of funds raised and rounds closed<\/strong>, startup funding showed significant volatility during the first six months of the year. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>It started off s<\/strong><strong>trong: <\/strong>January recorded the highest amount invested in local startups all year long \u2014 investors poured some USD 28.0 mn into our startups during the month. The figure dipped to USD 4.6 mn in February as investors grew cautious of the Egyptian market, which at the time was looking at major discrepancies between the official EGP \/ USD exchange rate and the black market rate. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Then the float of the EGP in March appeared to reignite investor confidence <\/strong>and investments started picking up again to hit USD 25.2 mn in May and USD 15.1 mn in June. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Rat<\/strong><strong>ing our VC fu<\/strong><strong>nding: <\/strong>The report gave venture capital financing a score of 2.81, placing it between the 2.0 below average score and the 3.0 average adequacy score. <\/p>\n<p class=\"tag-border-left\">WHATS NEXT- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What is to be done?<\/strong> To boost the startup ecosystem and push it to the next level, the report lays out a number of recommendations. These include offering targeting programs for growth-stage startups, introducing tax breaks for VC firms and investors to stimulate VC funding, and introducing incentives for foreign investors. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Also on the agenda: <\/strong>The report also recommends strengthening the financial infrastructure for smooth cash transfers, encouraging private sector players to set up incubators and accelerators, and setting up PPP funds. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>And on the regulatory front<\/strong>, the report recommends the establishment of a unified government strategy for entrepreneurship coupled with effective policy and regulatory mechanisms. It also recommends the state simplifies and updates existing regulations to make the process easier for entrepreneurs and investors and boost dialogue between the state and entrepreneurs.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/entlaq\/\">Entlaq<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/startup-watch\/\">Startup watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/startups\/\">startups<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n   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   \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">3<\/div>\r\n\r\n                    <p class=\"f-graphik\">EARNINGS WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/08\/29\/integrated-diagnostics-holdings-orascom-construction-report-earnings\/\">\r\n                            Integrated Diagnostics Holdings, Orascom Construction report earnings                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a 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href=\"https:\/\/enterpriseam.com\/egypt\/2024\/08\/29\/integrated-diagnostics-holdings-orascom-construction-report-earnings\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/8\/2566.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"640651\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/08\/29\/integrated-diagnostics-holdings-orascom-construction-report-earnings\/2566-jpg-2\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/8\/2566.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"2566.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/8\/2566.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/8\/2566.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-640650\" class=\"content-area-description single-story post-640650 post type-post status-publish format-standard has-post-thumbnail hentry category-earnings-watch tag-earnings-watch tag-enterpriseam tag-integrated-diagnostics-holding tag-orascom-construction wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/8\/.2ae35ab9-a5b8-49bd-90b3-4e4f51918280.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>It\u2019s earning\u2019s o\u2019clock: <\/strong>As we get ready to enter September, companies are continuing to churn out reports for their 2Q and 1H earnings for the year.<\/p>\n<p class=\"tag-border-left\">IDH\u2019S NET INCOME, REVENUES UP IN 2Q-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>IDH had a good quarter:<\/strong> Regional diagnostic services provider Integrated Diagnostics Holding\u2019s (IDH) net income jumped 84% y-o-y to EGP 78 mn in 2Q 2024, it said in an <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/8\/2555.pdf\" style=\"\" rel=\"noopener\">earnings release (pdf)<\/a>. During the same period, revenues rose 39% y-o-y to EGP 1.3 bn. Topline growth was spurred by higher test volumes and higher average revenues per test as a result of effective pricing strategies.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>On a 1H basis:<\/strong> Net income more than doubled y-o-y to EGP 480 mn in 1H 2024, while revenues came in at EGP 2.5 bn, marking a 33% y-o-y increase.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Om El Donya drove the growth:<\/strong> Revenues from the company\u2019s operations in Egypt \u2014 its core market \u2014 accounted for 83.1% of the company\u2019s topline during the quarter, recording a 38% y-o-y increase to EGP 1.1 bn. On a 1H basis, Egypt operations contributed 82.8% of total revenues, followed by Jordan (15.4%), Nigeria (1.5%), and Saudi Arabia (0.2%).<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Looking ahead:<\/strong> \u201cIn Egypt, we expect continued growth driven by recent economic reforms<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">and a gradual improvement in purchasing power,\u201d said CEO Hend El Sherbini. \u201cWe are particularly excited about the significant potential in our radiology venture. As the economy stabilizes, we see a tremendous opportunity to further capitalize on this growth area, leveraging our enhanced capabilities to deliver even greater value across the region.\u201d<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>REMEMBER- IDH is delisting from the EGX:<\/strong> The company on Monday <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/ca84a916-d060-48f9-93c6-075f38bb0396\/\" style=\"\" rel=\"noopener\">repurchased some<\/a><a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/ca84a916-d060-48f9-93c6-075f38bb0396\/\" style=\"\" rel=\"noopener\">18.7 mn shares<\/a> for EGP 20 a piece as part of its delisting buyback program. The buyback settlement process was slated for completion yesterday, according to the earnings release. IDH will transfer its shares from the EGX to the London Stock Exchange.<\/p>\n<p class=\"tag-border-left\">NET INCOME UP, REVENUES DOWN FOR ORASCOM CONSTRUCTION IN 1H-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>US activities drive income growth, while revenues dip after MEA activity falls: <\/strong>The construction giant saw its net income rise 13.7% y-o-y during the first half of the year to USD 64.7 mn thanks to a 54.2% y-o-y increase in income recorded from the company\u2019s US activities, according to its latest <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/8\/2523.pdf\" style=\"\" rel=\"noopener\">earnings release (pdf)<\/a>. Revenues were down for the period, falling 5.5% y-o-y to record USD 1.5 bn on the back of a 24.5% reduction in revenues from the MEA region. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Backlog grows: <\/strong>The company\u2019s consolidated backlog grew 39.7% y-o-y to USD 7.7 bn during the six-month period \u2014 projects in Egypt accounted for 62.7% of Orascom Construction\u2019s total consolidated backlog, projects in the US came in second with 25.5%. The company\u2019s new awards rose 3.7% y-o-y to USD 1.7 bn during 1H 2024. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>On a quarterly basis: <\/strong>Orascom Construction saw its net income dip 10.7% y-o-y to USD 18.6 mn in Q2 2024, due to a 42.7% y-o-y dip in the MEA region\u2019s income for the period. Revenues fell 6.3% y-o-y for the quarter, coming in at USD 711.1 mn while new awards were up 41.8% y-o-y to USD 1.0 bn during the quarter. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Looking ahead:<\/strong> \u201cOur backlog stands at a healthy USD 7.7 bn, positioning us to remain selective in pursuing new opportunities while maintaining our focus on project execution to capitalize on the current backlog,\u201d said CEO Osama Bishai.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/earnings-watch\/\">earnings watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/integrated-diagnostics-holding\/\">Integrated Diagnostics Holding<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/orascom-construction\/\">Orascom Construction<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"640652\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                story-section            \"\r\n            id=\"640652\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">4<\/div>\r\n\r\n                    <p class=\"f-graphik\">Logistics<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/08\/29\/tci-unloads-first-panamax-vessel-at-adabiya-port-by-using-lighterage-operation\/\">\r\n                            TCI unloads first Panamax vessel at Egypt\u2019s Adabiya Port by using lighterage operation                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/08\/29\/tci-unloads-first-panamax-vessel-at-adabiya-port-by-using-lighterage-operation\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); 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The more we grow our exports (and import of critical production inputs needed to sustain them), the more we\u2019re going to need to be creative solving problems like this.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>How can you get around it?<\/strong> Neither of the usual options are very attractive to a client wanting to get goods into port. It boils down to (a) send the cargo on more than one smaller vessel with drafts that allows them to come into your port of choice or (b) steam for a different port, unload, and then truck the cargo overland.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What happened here?<\/strong> TCI performed a lighterage operation \u2014 its team met the vessel offshore and used floating cranes and barges to offload the cargo at sea. Once lighter, the Panamax vessel had a lesser draft and was able to sail into port and finish up the unloading process at berth.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What's TCI?<\/strong> The company operates container, bulk, break bulk, cargo handling, and trucking from the ports of Adabiya, Sokhna, Safaga, and Port Said.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Even if you're not a shipping nerd like us, we think you'll find the video of the operation<\/strong><strong> cool<\/strong> (<a target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=Bc0UIapFpiA\" style=\"\" rel=\"noopener\">watch, runtime: 2:07<\/a>). (And no, you don't need to have grown up with a copy of Jane's Fighting Ships on your bedside table to make heads or tails of it.)<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/ad-ports\/\">AD Ports<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/logistics\/\">logistics<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"640654 advertiser\" class=\"issue-section enterprise-adv\">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                            \"\r\n            id=\"640654\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/08\/29\/640654\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-640654\" class=\"content-area-description single-story post-640654 post type-post status-publish format-standard hentry category-advertiser wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><span style=\"font-weight:400;\"><a href=\"https:\/\/www.sodic.com\/SodicContactUs\" target=\"_blank\" rel=\"noopener\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/7\/1877.jpg?ssl=1\"><\/a><\/span><\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"640655\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                story-section            \"\r\n            id=\"640655\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">5<\/div>\r\n\r\n                    <p class=\"f-graphik\">EGYPT IN THE NEWS<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/08\/29\/four-new-luxurious-suites-in-cairos-historic-immobilia-building-profiled-in-the-nyt\/\">\r\n                            Four new luxurious suites in Cairo\u2019s historic Immobilia Building profiled in the NYT                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/08\/29\/four-new-luxurious-suites-in-cairos-historic-immobilia-building-profiled-in-the-nyt\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); navigator.clipboard.writeText('https:\/\/enterpriseam.com\/egypt\/2024\/08\/29\/four-new-luxurious-suites-in-cairos-historic-immobilia-building-profiled-in-the-nyt\/')\">\n                    Copy Link                <\/a>\n\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https:\/\/enterpriseam.com\/egypt\/2024\/08\/29\/four-new-luxurious-suites-in-cairos-historic-immobilia-building-profiled-in-the-nyt\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=Four new luxurious suites in Cairo\u2019s historic Immobilia Building profiled in the NYT&url=https:\/\/enterpriseam.com\/egypt\/2024\/08\/29\/four-new-luxurious-suites-in-cairos-historic-immobilia-building-profiled-in-the-nyt\/\">\n                    X                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/twitter-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/shareArticle?mini=true&url=https:\/\/enterpriseam.com\/egypt\/2024\/08\/29\/four-new-luxurious-suites-in-cairos-historic-immobilia-building-profiled-in-the-nyt\/&title=Four new luxurious suites in Cairo\u2019s historic Immobilia Building profiled in the NYT\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=Four+new+luxurious+suites+in+Cairo%E2%80%99s+historic+Immobilia+Building+profiled+in+the+NYT+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2024%2F08%2F29%2Ffour-new-luxurious-suites-in-cairos-historic-immobilia-building-profiled-in-the-nyt%2F\">\n                    WhatsApp                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/whatsapp-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n        <\/ul>\n    <\/div>\n        <\/div>\r\n                    \r\n                <\/div>\r\n\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/08\/29\/four-new-luxurious-suites-in-cairos-historic-immobilia-building-profiled-in-the-nyt\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-640655\" class=\"content-area-description single-story post-640655 post type-post status-publish format-standard hentry category-egypt-in-the-news tag-enterpriseam wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/8\/.d28ee9d1-fac4-4722-ba24-f836b152dda0.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.nytimes.com\/2024\/08\/28\/t-magazine\/apartments-cairo-immobilia.html?searchResultPosition=2\" style=\"\" rel=\"noopener\">New York Times<\/a><\/strong><strong> gives us a vivid tour of a collection of serviced luxury apartments<\/strong><strong> nestled within Downtown Cairo\u2019s historic Immobilia Buildin<\/strong><strong>g<\/strong>, which in its heyday once housed the likes of Omar Sharif, Leila Mourad, Abdek Halim Hafez, and other Egyptian greats. The carefully styled apartments overlooking Downtown Cairo from what was Cairo\u2019s tallest building when it was built in 1940 have a \u201cfaded-glory feel mixed with contemporary energy,\u201d Florence-based lawyer and owner of the apartments Florian Amereller tells the NYT. The accommodation includes personalized services such as a dedicated butler, chauffeured classic cars, bespoke tours, and gourmet dining.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"640656\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                story-section            \"\r\n            id=\"640656\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">6<\/div>\r\n\r\n                    <p class=\"f-graphik\">Also on our Radar<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/08\/29\/fertiglobe-rubber-stamps-eur-397-mn-green-ammonia-offtake-agreement-with-germanys-h2global-plus-oil-found-mystery-chinese-auto-company-eyes-egypt-japanese-schools-in-the-works-flight-inc\/\">\r\n                            Fertiglobe rubber stamps EUR 397 mn green ammonia offtake agreement with Germany\u2019s H2Global. PLUS: Oil found, mystery Chinese auto company eyes Egypt, Japanese schools in the works, flight incentives                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/08\/29\/fertiglobe-rubber-stamps-eur-397-mn-green-ammonia-offtake-agreement-with-germanys-h2global-plus-oil-found-mystery-chinese-auto-company-eyes-egypt-japanese-schools-in-the-works-flight-inc\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); navigator.clipboard.writeText('https:\/\/enterpriseam.com\/egypt\/2024\/08\/29\/fertiglobe-rubber-stamps-eur-397-mn-green-ammonia-offtake-agreement-with-germanys-h2global-plus-oil-found-mystery-chinese-auto-company-eyes-egypt-japanese-schools-in-the-works-flight-inc\/')\">\n                    Copy Link                <\/a>\n\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https:\/\/enterpriseam.com\/egypt\/2024\/08\/29\/fertiglobe-rubber-stamps-eur-397-mn-green-ammonia-offtake-agreement-with-germanys-h2global-plus-oil-found-mystery-chinese-auto-company-eyes-egypt-japanese-schools-in-the-works-flight-inc\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=Fertiglobe rubber stamps EUR 397 mn green ammonia offtake agreement with Germany\u2019s H2Global. PLUS: Oil found, mystery Chinese auto company eyes Egypt, Japanese schools in the works, flight incentives&url=https:\/\/enterpriseam.com\/egypt\/2024\/08\/29\/fertiglobe-rubber-stamps-eur-397-mn-green-ammonia-offtake-agreement-with-germanys-h2global-plus-oil-found-mystery-chinese-auto-company-eyes-egypt-japanese-schools-in-the-works-flight-inc\/\">\n                    X                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/twitter-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/shareArticle?mini=true&url=https:\/\/enterpriseam.com\/egypt\/2024\/08\/29\/fertiglobe-rubber-stamps-eur-397-mn-green-ammonia-offtake-agreement-with-germanys-h2global-plus-oil-found-mystery-chinese-auto-company-eyes-egypt-japanese-schools-in-the-works-flight-inc\/&title=Fertiglobe rubber stamps EUR 397 mn green ammonia offtake agreement with Germany\u2019s H2Global. 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data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/08\/29\/fertiglobe-rubber-stamps-eur-397-mn-green-ammonia-offtake-agreement-with-germanys-h2global-plus-oil-found-mystery-chinese-auto-company-eyes-egypt-japanese-schools-in-the-works-flight-inc\/2564-jpg-4\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/8\/2564.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"2564.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/8\/2564.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/8\/2564.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-640656\" class=\"content-area-description single-story post-640656 post type-post status-publish format-standard has-post-thumbnail hentry category-also-on-our-radar tag-also-on-our-radar tag-automotive tag-aviation tag-education tag-egypt-japan-relations tag-enterpriseam tag-fertiglobe tag-green-ammonia tag-manufacturing tag-mining tag-oil-and-gas tag-tourism wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<aside>\t\t\t<div\r\n\t\t\t\t\t\t\t\tclass=\"newspack-popup-container newspack-popup hidden  newspack-inline-popup  newspack-lightbox-no-border   \"\r\n\t\t\t\trole=\"button\"\r\n\t\t\t\ttabindex=\"0\"\r\n\t\t\t\tstyle=\"background-color:#FFFFFF;color:#000\"\r\n\t\t\t\tid=\"id_408146\"\r\n\t\t\t\tdata-segments=\"\"\r\n\t\t\t\tdata-frequency=\"0,0,0,month\"\r\n\t\t\t>\r\n\t\t\t\t\n<div class=\"wp-block-group has-light-gray-background-color has-background\" style=\"padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px\"><div class=\"wp-block-group__inner-container is-layout-constrained wp-container-core-group-is-layout-ef38739e wp-block-group-is-layout-constrained\">\n<div class=\"wp-block-group is-content-justification-center is-nowrap is-layout-flex wp-container-core-group-is-layout-94bc23d7 wp-block-group-is-layout-flex\"><div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408144.svg\" alt=\"\" class=\"wp-image-408144\"\/><\/figure>\n<\/div><\/div>\n<\/div><\/div>\n\t\t\t<\/div>\r\n\t\t<\/aside>\n<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/8\/.3afa329d-c8a9-441a-b0e9-edb404a0ff2f.mp3\"><\/audio><\/figure><p class=\"tag-border-left\">ENERGY-<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>#1- Fertiglobe gives the final rubber stamp to green ammonia offtake agreement with<\/strong><strong> Germany\u2019s H2Global:<\/strong> UAE-based renewables player Fertiglobe has inked an EUR 397 mn contract with H2Global subsidiary <a target=\"_blank\" href=\"http:\/\/hint.co\" style=\"\" rel=\"noopener\">HINT.CO<\/a> to supply green ammonia from its facilities in Egypt to the European Union, according to statements by both parties (<a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/feed\/update\/urn:li:activity:7234507216064528385\/\" style=\"\" rel=\"noopener\">here<\/a> and <a target=\"_blank\" href=\"https:\/\/www.hintco.eu\/news\/bmwk-1-tender-lot-1-signing-ceremony-fertiglobe\" style=\"\" rel=\"noopener\">here<\/a>). The move comes over a month after Fertiglobe was <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/f049fa22-56b2-4eef-aaec-6571ab41fb5e\/\" style=\"\" rel=\"noopener\">selected as the winning bidder<\/a> in H2Global\u2019s pilot auction.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Remember:<\/strong> The agreement will see Fertiglobe supply H2Global with up to 19.5k tons of green ammonia annually beginning in 2027, with total deliveries expected to rise to a cumulative 397k tons by 2033. Fertiglobe will source the green hydrogen it needs to produce green ammonia from Egypt Green Hydrogen \u2014 a plant jointly set up by Fertiglobe, Orascom Construction, Scatec, the Sovereign Fund of Egypt, and the Egyptian Electricity Transmission Company.<\/p><hr style=\"height:2px;border-width:0;color:gray;background-color:gray\"><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- Striking black gold: <\/strong>Khalda Petroleum announced a new oil discovery in the Western Desert\u2019s West Fewebs-1 area, according to a <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/EgyptMOP\/posts\/pfbid0QJEfG1wTMcKWMkj4DUGweN2og4J7Sx2XkA1Pq5cfhco31SLnCQeDCpqpbMDiqRH2l\" style=\"\" rel=\"noopener\">statement<\/a> from the Oil Ministry. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Good timing: <\/strong>The discovery coincides with Egyptian Natural Gas Holding Company\u2019s announcement that it is <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/0cd315b9-f330-4173-8492-6cba27b83e8d\/stellantis-in-talks-with-gov%25e2%2580%2599t-to-start-assembling-fiat,-citroen,-and-opel-models-locally.-plus:-sodic,-cib-%2B-chemicals-&amp;-fertilizers-export-council,-misr-ins.,-eaton,-msmeda\" style=\"\" rel=\"noopener\">inviting bids<\/a> for 12 new oil and gas exploration blocks in the Mediterranean and Nile Delta.<\/p><p class=\"tag-border-left\"> AUTOMOTIVE-<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Mystery luxury car manufacturer from China mulls Egypt factory: <\/strong>The Industry Ministry is in talks with an unnamed Chinese luxury car manufacturer over locally producing its cars, an unnamed government source told <a target=\"_blank\" href=\"https:\/\/almalnews.com\/premium\/%d9%85%d8%b5%d8%af%d8%b1-%d8%ad%d9%83%d9%88%d9%85%d9%89-%d8%b4%d8%b1%d9%83%d8%a9-%d8%b5%d9%8a%d9%86%d9%8a%d8%a9-%d8%aa%d9%81%d8%a7%d8%b6%d9%84-%d8%a8%d9%8a%d9%86-%d9%85%d8%b5%d8%b1-%d9%88%d8%a7%d9%84\/\" style=\"\" rel=\"noopener\">Al<\/a><a target=\"_blank\" href=\"https:\/\/almalnews.com\/premium\/%d9%85%d8%b5%d8%af%d8%b1-%d8%ad%d9%83%d9%88%d9%85%d9%89-%d8%b4%d8%b1%d9%83%d8%a9-%d8%b5%d9%8a%d9%86%d9%8a%d8%a9-%d8%aa%d9%81%d8%a7%d8%b6%d9%84-%d8%a8%d9%8a%d9%86-%d9%85%d8%b5%d8%b1-%d9%88%d8%a7%d9%84\/\" style=\"\" rel=\"noopener\">Mal<\/a>. The first phase of operation will see the Chinese company produce 5k cars to serve the local market and to be exported.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>It\u2019s still in the early stages: <\/strong>The company is still deciding between Egypt and Morocco for launching its production line or factory for one of their models. <\/p><p class=\"tag-border-left\">EDUCATION-<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>More Japanese schools in the works:<\/strong> The government has plans to expand the network of Japanese schools in the country to 1.7k by the end of the fiscal year 2026-2027, according to a Planning and International Cooperation Ministry <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid0MqwC2ht1rG3G5MLVfzkFFBjP1sh3udcZaLcFcEebjPfsG1kG3qRNjRFRb34WcHPml?rdid=t5XMpnfryRfqQLyQ\" style=\"\" rel=\"noopener\">statement<\/a>. There are also plans to set up 62 Japanese technological and vocational schools by then. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Japanese schools are no stranger to the local market<\/strong>, with the Education Ministry rolling out Egyptian-Japanese schools across the country over the past few years as part of a partnership between the two countries. We dove deeper into the topic in a <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/28c605aa-e83b-41f8-a16b-4835b7b90e68\/project-profile:-how%253cmark%253e-japanese-schools%253c%2Fmark%253e-are-part-of-egypt%25e2%2580%2599s-educational-reform-program\" style=\"\" rel=\"noopener\">Blackboard<\/a> published in 2022.<\/p><p class=\"tag-border-left\">AVIATION-<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Winter flight incentives get the preliminary green light: <\/strong>The Egyptian Tourism Authority\u2019s board <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/tourismandantiq\/posts\/pfbid0LHcqtLMVvkRCDcKmMVLq7esepTBgDRtVDxZC6YJPpjWiQHzJdyVJnU13LvBAXufTl\" style=\"\" rel=\"noopener\">approved<\/a> the main guidelines for the winter flight incentive program, which is expected to run from November 2024 to the end of April 2025. The program will go to the ministry\u2019s Tourism and Antiquities Support Fund\u2019s board for discussion next.<\/p><p class=\"tag-border-left\">MANUFACTURING-<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Black+Decker could set up shop in Egypt:<\/strong> American power tool manufacturer Black+Decker is in talks with the General Authority for Investment and Free Zones (GAFI) to set up a factory in Egypt, according to a <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid0mrh7ooJ32TumyNBtW73ykFqPJG3BTQbV9q8N8a276sm67cvCYeENNXGvwMwX8tPpl\" style=\"\" rel=\"noopener\">statement<\/a> from the authority. The factory, which would be the company\u2019s first in the Middle East and Africa, would produce electric equipment and tools for the local market and export. <\/p><p class=\"tag-border-left\">CAPITAL MARKETS-<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Naeem Brokerage gets FRA approval to trade carbon certificates: <\/strong>Naeem Brokerage has secured a license to trade carbon certificates on Egypt\u2019s newly launched voluntary carbon market from the Financial Regulatory Authority, <a target=\"_blank\" href=\"https:\/\/www.alborsaanews.com\/2024\/08\/28\/1821482\" style=\"\" rel=\"noopener\">Al Borsa<\/a> reports, citing the company\u2019s managing director Osama Gamal.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Remember:<\/strong> Egypt earlier this month <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/bf6f83bf-cf94-4686-a908-2e5c27b3c511\/\" style=\"\" rel=\"noopener\">launched<\/a> its voluntary carbon trading market \u2014 the first in Africa. The market allows companies to issue and trade voluntary carbon certificates in Egypt and Africa, which can be bought by other companies wanting to offset their emissions.<\/p>\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/also-on-our-radar\/\">ALSO ON OUR RADAR<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/automotive\/\">automotive<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/aviation\/\">aviation<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" 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class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">7<\/div>\r\n\r\n                    <p class=\"f-graphik\">PLANET FINANCE<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/08\/29\/nvidia-shares-slide-despite-highly-anticipated-2q-earnings-beating-forecasts\/\">\r\n                            Nvidia shares slide despite highly anticipated 2Q earnings beating forecasts                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a 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data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/8\/2571.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-640658\" class=\"content-area-description single-story post-640658 post type-post status-publish format-standard has-post-thumbnail hentry category-planet-finance tag-ai tag-capital-markets tag-enterpriseam tag-financial-markets tag-nvidia tag-planet-finance wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<aside>\t\t\t<div\r\n\t\t\t\t\t\t\t\tclass=\"newspack-popup-container newspack-popup hidden  newspack-inline-popup  newspack-lightbox-no-border   \"\r\n\t\t\t\trole=\"button\"\r\n\t\t\t\ttabindex=\"0\"\r\n\t\t\t\tstyle=\"background-color:#FFFFFF;color:#000\"\r\n\t\t\t\tid=\"id_408150\"\r\n\t\t\t\tdata-segments=\"\"\r\n\t\t\t\tdata-frequency=\"0,0,0,month\"\r\n\t\t\t>\r\n\t\t\t\t\n<div class=\"wp-block-group has-light-gray-background-color has-background\" style=\"padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px\"><div class=\"wp-block-group__inner-container is-layout-constrained wp-container-core-group-is-layout-ef38739e wp-block-group-is-layout-constrained\">\n<div class=\"wp-block-group is-content-justification-center is-nowrap is-layout-flex wp-container-core-group-is-layout-94bc23d7 wp-block-group-is-layout-flex\"><div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408151.svg\" alt=\"\" class=\"wp-image-408151\"\/><\/figure>\n<\/div><\/div>\n<\/div><\/div>\n\t\t\t<\/div>\r\n\t\t<\/aside>\n<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/8\/.e03f1831-e8c7-4408-ad20-411b3f1059dd.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>There\u2019s one story dominating the pages of the world\u2019s business press<\/strong><strong> today: <\/strong>Giant US chipmaker Nvidia reported 2Q <a target=\"_blank\" href=\"https:\/\/nvidianews.nvidia.com\/news\/nvidia-announces-financial-results-for-second-quarter-fiscal-2025\" style=\"\" rel=\"noopener\">earnings<\/a> after the bell yesterday that beat bottom and top line expectations. However, investors \u2014 who have kept their eyes peeled for the AI juggernaut\u2019s results for signs of how the AI boom is faring \u2014 are skeptical about the road ahead for the company and have driven down its share price in after-hours trading.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>By the numbers:<\/strong> The company\u2019s net income grew 168.2% y-o-y to USD 16.6 bn, delivering an earnings per share of USD 0.68 cents, compared to LSEG consensus expectations of <a target=\"_blank\" href=\"https:\/\/www.cnbc.com\/2024\/08\/28\/nvidia-nvda-earnings-report-q2-2025.html\" style=\"\" rel=\"noopener\">USD 0.64<\/a>. Revenues also came in a good notch above expectations, rising 122.4% y-o-y to USD 30.0 bn, exceeding analyst expectations of <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/5ea817f6-fe45-4e1d-ae30-0f4e455285cb\" style=\"\" rel=\"noopener\">USD 28.7 bn<\/a>.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>This wasn\u2019t enough to buoy stocks at the world\u2019s second biggest company:<\/strong> Nvidia shares had fallen about 8% in extended trading at the time of writing, after its 3Q forecasts failed to impress investors \u2014 representing a roughly USD 200 bn drop in market value.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Nvidia has become a victim of its own success: <\/strong>Despite beating analysts expectations in 2Q and AI chip demand appearing to be much healthier than some had feared, the success of the company has led to some investors to price in incredibly high expectations for the company going forwards. The company expects to see USD 32.5 bn in revenues for the third quarter \u2014 plus or minus 2% \u2014 but this roughly 80% y-o-y increase that is a notch above analyst expectations isn\u2019t enough for some investors. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>But it\u2019s going to take a lot to knock one of Wall Street\u2019s most hotly watched stocks off<\/strong><strong> course: <\/strong>Even if Nvidia does take a hit on the stock market in the coming days, the company\u2019s share value is already up around 160% since the start of the year. Nvidia stocks alone have contributed more than a quarter of the S&amp;P 500\u2019s gains so far this year, helping to propel the company to be the world\u2019s second biggest company, behind only Apple.<\/p><p class=\"tag-border-left\">MARKETS THIS MORNING-<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Asian markets are down in the red in early trading this morning<\/strong>, as investors assess how Nvidia\u2019s share slump following its earnings release will affect the region as an important global hub for engineering chip parts. Tech and electronics companies are pushing down indexes across the region, with Korea\u2019s Kopsi down 0.7%, Japan\u2019s Nikkei down 0.4%, and China\u2019s Hang Seng down 0.3%.<\/p><div class=\"stock-ticker-panel\">\n<table class=\"table stock-ticker-table markets-table\">\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>EGX30<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">30,710<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+1.1% (YTD: +23.4%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>USD (CBE)<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">Buy 48.59<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">Sell 48.72<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>USD (CIB<\/strong><strong>)<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">Buy 48.60<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">Sell 48.70<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-none\">\n<td class=\"td-list-none\">\n<p><svg class=\"e-icon e-TypeMarkets\"><use xlink:href=\"#e-TypeMarkets\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Interest rates (CBE)<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">27.25% deposit<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">28.25% lending<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Tadawul<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">12,117<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.5% (YTD: +1.3%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>ADX<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">9,289<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.5% (YTD: -3.0%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>DFM<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">4,324<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.4% (YTD: +6.5%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>S&amp;P 500<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">5,592<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.6% (YTD: +17.2%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-none\">\n<td class=\"td-list-none\">\n<p><svg class=\"e-icon e-TypeMarkets\"><use xlink:href=\"#e-TypeMarkets\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>FTSE 100<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">8,344<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">0.0% (YTD: +7.9%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Euro Stoxx 50<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">4,913<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.3% (YTD: +8.7%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Brent crude<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">USD 78.65<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-1.1%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Natural gas (Nymex)<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">USD 1.93<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+1.4%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Gold<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">USD 2,537.80<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.6%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>BTC<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">USD 59,361.90<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-4.0% (YTD: +39.8%)<\/p>\n<\/td>\n<\/tr>\n<\/table>\n<\/div><p class=\"tag-border-left\">THE CLOSING BELL-<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The EGX30 rose 1.1% at yesterday\u2019s close<\/strong> on turnover of EGP 4.6 bn (16.9% above the 90-day average). Local investors were net sellers. The index is up 23.4% YTD.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the green: <\/strong>Ezz Steel (+11.5%), Eastern Company (+7.2%), and Palm Hills Developments (+6.4%).<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the red: <\/strong>Juhayna (-3.4%), Fawry (-2.1%), and Heliopolis Housing (-1.8%).<\/p><p class=\"tag-border-left\">CORPORATE ACTIONS- <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Ezz Steel halts GDR trading on LSE:<\/strong> Ezz Steel has requested a three-week suspension of trading on its GDRs on the London Stock Exchange until it completes its audit for its 2023 financial statements, according to a <a target=\"_blank\" href=\"https:\/\/www.londonstockexchange.com\/news-article\/AEZD\/request-to-suspend-trading-on-gdrs-for-3-weeks\/16638269\" style=\"\" rel=\"noopener\">disclosure<\/a> from the company. <\/p>\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/ai\/\">AI<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/capital-markets\/\">capital markets<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/financial-markets\/\">Financial Markets<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/nvidia\/\">Nvidia<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/planet-finance\/\">Planet Finance<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"640660\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                story-section            \"\r\n            id=\"640660\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">8<\/div>\r\n\r\n                    <p class=\"f-graphik\">My Morning Routine<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/08\/29\/my-morning-routine-bassem-fayek-managing-director-and-partner-at-boston-consulting-group\/\">\r\n                            My Morning Routine: Bassem Fayek, managing director and partner at Boston Consulting Group                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/08\/29\/my-morning-routine-bassem-fayek-managing-director-and-partner-at-boston-consulting-group\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); 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Speaking to us this week is Bassem Fayek (<a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/in\/bassemfayek\/\" style=\"\" rel=\"noopener\">LinkedIn<\/a>), managing director and partner at Boston Consulting Group (BCG), Cairo.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>My name is Bassem Fayek. <\/strong>I\u2019m currently managing director and partner at BCG, Cairo, but I originally majored in electronic engineering at AUC. I graduated in 2008 and I began working in investment banking for about a year before getting into consulting, and I haven\u2019t looked back since. I was BCG\u2019s first local hire when it began operations in Egypt back in February of 2020 \u2014 when Covid first happened. So it was just me and my laptop, and my role was to build up the company, the team, and the whole setup of BCG Cairo.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>BCG\u2019s ultimate purpose is to unlock the potential of those who advance the world.<\/strong> In more technical terms, we advise clients, address their biggest challenges, and help them realize their biggest aims. Our three main priorities while setting up shop in Egypt were, to first advance local firms and help them grow regionally and globally. Secondly, on the other side of the coin, we wanted to help international firms advance their contributions to the Egyptian market. Finally, we wanted to support the government and national priorities \u2014 we were the strategic consulting partner for COP27 and we were the consulting partner for the <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/b44bf694-9410-4f47-beea-46b32a2a5f11\/egypt-inks-eur-67.7-bn-worth-of-agreements-and-mous-at-egypt-eu%253cmark%253e-investment-conference%253c%2Fmark%253e\" style=\"\" rel=\"noopener\">Egypt-EU Investment Conference<\/a> that took place recently. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>My day-to-day responsibilities revolve around those three priorities<\/strong>, as well as building up the Cairo team and work related to recruitment. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Getting started right when Covid hit represented a challenge, but it was also an<\/strong> <strong>opportunity.<\/strong> It removed some of the expectations of having people fly in and out to conduct their business, and \u2014 with BCG being a global firm \u2014 it was a lot easier to quickly provide access to expertise by just jumping on a Zoom call. It took maybe less than six months for business to really pick up, and we\u2019ve since built a strong business case in Egypt that has rapidly accelerated our growth.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The most prevailing trend in both our industry and others is, of course, AI and its<\/strong> <strong>integration into our workflow. <\/strong>I imagine it\u2019s kind of like how everything changed with the introduction of Excel, in that it\u2019s transforming how we use computers. It\u2019s a similar context and the magnitude and potential impact is much bigger.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Consulting and routine don\u2019t really go together very well<\/strong>, but I always try to make sure there\u2019s at least one hour in my morning dedicated to spending some quality time with the family and playing with my 12-month-old son Adam for a bit. I try to leave the time between the morning and the afternoon for meetings with clients, then maybe spend the period between 4-8pm doing internal team meetings to discuss projects or to solve problems. I also keep the 7:30-8pm slot empty so I can spend some more time with Adam. If there\u2019s another really urgent meeting I\u2019ll have it done after that.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>I usually read <\/strong><strong>EnterpriseAM Egypt <\/strong><strong>during the first 30 minutes of my day<\/strong>, especially the first section, which I get through pretty quickly with my morning coffee or while having breakfast, before reading the rest while commuting to work. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The one constant in my day is that I\u2019m always surrounded by highly ambitious people.<\/strong> Be it my team members here at BCG, other partners, or CEOs and ministers \u2014 setting a high bar for me to sustain, maintain, and grow from as well. That\u2019s what keeps this role exciting for me. The attrition rate is really high in the consulting industry \u2014 so after having done it for 15 years, in a very rough market like Egypt\u2019s, what keeps you going is the people you\u2019re working with.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Other than spending more time with my family, my current goal on a personal level is to<\/strong> <strong>start working out again.<\/strong> I used to be a crossfitter prior to Covid, but I\u2019ve since had to stop going to the gym and I haven\u2019t picked it up since then. I think it\u2019s more about finding the mental capacity than it is about finding the time \u2014 so that\u2019s one thing I\u2019d like to add to my morning routine. On the professional level, I aim to continue to help grow BCG Cairo. Our goal over the next four to five years is to grow three-fold at least.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Work-life balance and consulting don\u2019t mix great together either.<\/strong> While consulting is definitely a demanding field compared to other industries in Egypt, we\u2019ve managed to keep the level of voluntary attrition at a much lower level than the industry average. I think while our teams are challenged, they\u2019re excited about what they\u2019re doing, and it\u2019s the same thing for me. The mindset comes from the top. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>To me, it\u2019s not about finding work-life balance \u2014 it\u2019s about whether you\u2019re really excited<\/strong> <strong>about what you\u2019re doing and if you feel like you\u2019re making an impact.<\/strong> I try to do things like avoiding overnight flights, I try to get a minimum of 6-7 hours of sleep, and I usually have no work on weekends \u2014 except the odd meeting on Fridays here and there, which I keep in the morning to avoid messing up the rest of my day. So I try to do things here and there to maintain some balance, but it\u2019s more of a side thought.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Two books that stand the test of time for me are <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.goodreads.com\/book\/show\/4865.How_to_Win_Friends_and_Influence_People\" style=\"\" rel=\"noopener\">How to Win Friends and Influence People<\/a><\/strong><strong> and <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.goodreads.com\/book\/show\/10534.The_Art_of_War\" style=\"\" rel=\"noopener\">The Art of War<\/a><\/strong><strong>,<\/strong> both of which I\u2019d definitely recommend. Another interesting one was called <a target=\"_blank\" href=\"https:\/\/www.goodreads.com\/book\/show\/10127019-the-lean-startup-hardcover\" style=\"\" rel=\"noopener\">The Lean Startup<\/a>, and one that\u2019s on my reading list is <a target=\"_blank\" href=\"https:\/\/www.goodreads.com\/book\/show\/40121378-atomic-habits?from_search=true&from_srp=true&qid=X5zZejj8Wf&rank=1\" style=\"\" rel=\"noopener\">Atomic Habits<\/a>. <\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/bassem-fayek\/\">Bassem Fayek<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/my-morning-routine\/\">MY MORNING ROUTINE<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"640662\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                story-section            \"\r\n            id=\"calendar\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/08\/29\/640662\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-640662\" class=\"content-area-description single-story post-640662 post type-post status-publish format-standard hentry category-calendar wpautop entry\">\n\n\t\t\t<hr class=\"wp-block-separator has-text-color has-primary-color has-alpha-channel-opacity has-primary-background-color has-background is-style-wide\">\n\n\t\t<h2 class=\"wp-block-heading mt-0 has-primary-color has-text-color has-link-color has-normal-font-size\" style=\"padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px\">\n\t\t\t<strong> CALENDAR<\/strong>\n\t\t<\/h2>\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">2024<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">AUGUST<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>August 2024: Shalateen to <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/6d572f59-2b27-4be1-a417-368f671f8ad3\/here%25e2%2580%2599s-what-you-missed-from-day-one-of-the-egypt%253cmark%253e-mining-forum%253c%2Fmark%253e\" style=\"\">announce<\/a><\/span><span style=\"font-weight:400;\"> gold exploration tender winner. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">SEPTEMBER<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>2-3 September (Monday-Tuesday): The <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.terrapinn.com\/exhibition\/seamless-north-africa\/index.stm\" style=\"\">Seamless North Africa conference<\/a><\/span><span style=\"font-weight:400;\">, Cairo.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>3-5 September (Tuesday-Thursday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.egypt-air-show.com\/\" style=\"\">Egypt International Airshow<\/a><\/span><span style=\"font-weight:400;\">, El Alamein International Airport.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>4-5 September (Wednesday-Thursday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid02tUzxgpkPAopRnfdNVEdzFHkRiyKDp8swAdjwaQxyYqQZQyKYj4tqdwXb5Md6BHbgl\" style=\"\">The US-Egypt Joint Economic Committee<\/a><\/span><span style=\"font-weight:400;\"> meeting, Washington.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">5 September (Thursday): Central Bank of Egypt\u2019s Monetary Policy Committee meeting.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">9-12 September (Monday-Thursday): The annual EFG Hermes London Conference.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>9 September (Monday): Egyptian delegation to visit Iraq. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">15 September (Sunday): National holiday in observance of Prophet Muhammad\u2019s birthday (TBC).<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">16 September (Monday): Egypt-UK Investment and Opportunities Forum, London. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>24 September (Tuesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/finance2024.enterprise.news\/\" style=\"\">Enterprise Finance Forum<\/a><\/span><span style=\"font-weight:400;\">, Cairo, Egypt<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>25-26 September (Wednesday-Thursday): The Asian Infrastructure Investment Bank\u2019s (AIIB) <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.aiib.org\/en\/news-events\/events\/annual-meetings\/2024\/index.html\" style=\"\">2024 annual meeting<\/a><\/span><span style=\"font-weight:400;\">, Samarkand, Uzbekistan.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>25-28 September (Wednesday-Saturday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.cityscapeegypt.com\/en\/home.html\" style=\"\">Cityscape Egypt<\/a><\/span><span style=\"font-weight:400;\">, Egypt International Exhibition Center, Cairo.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">30 September (Monday): Ban on sugar exports expiration.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">OCTOBER<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>1-3 October (Tuesday-Thursday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/csew.net\/\" style=\"\">Cairo Sustainable Energy Week<\/a><\/span><span>, Cairo, Egypt.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">6 October (Sunday): Armed Forces Day.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>10-12 October (Thursday-Saturday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.egyhealthexpo.com\/\" style=\"\">Egy Health Expo<\/a><\/span><span style=\"font-weight:400;\">, Egypt International Exhibition Center, Cairo.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">10-12 October (Thursday-Saturday): The FinExpo Conference and Exhibition, Cairo.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">17 October (Thursday): Central Bank of Egypt\u2019s Monetary Policy Committee meeting.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>13-17 October (Sunday-Thursday): Cairo Water Week, <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.cairowaterweek.eg\/\" style=\"\">Water and Climate: Building Resilient Communities<\/a><\/span><span style=\"font-weight:400;\">, Cairo, Egypt. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>20-22 October (Sunday-Tuesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/moc-egypt.com\/\" style=\"\">Mediterranean Offshore Conference (MOC)<\/a><\/span><span style=\"font-weight:400;\">, Alexandria, Egypt.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>21-27 October (Monday-Sunday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.imfconnect.org\/content\/imf\/en\/annual-meetings\/FutureMeetings.html\" style=\"\">The World Bank and IMF annual meetings<\/a><\/span><span style=\"font-weight:400;\">.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">NOVEMBER<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>4-8 November (Monday-Friday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/wuf.unhabitat.org\/\" style=\"\">World Urban Forum<\/a><\/span><span>, Cairo, Egypt.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>12-15 November (Tuesday-Friday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid0m61FMcuP2Qn6d36We1ozK1CgZEF6KGqaen15UMX7EkfRovB1cuxZ1gFtbqZNFvQ5l\" style=\"\">Arab African Investment and International Cooperation Summit<\/a><\/span><span style=\"font-weight:400;\">, Aswan, Egypt.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">21 November (Thursday): Central Bank of Egypt\u2019s Monetary Policy Committee meeting.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>26-28 November (Tuesday-Thursday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.egypt-energy.com\/en\/home.html\" style=\"\">Egypt Energy Show<\/a><\/span><span style=\"font-weight:400;\">, Cairo, Egypt.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">DECEMBER<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">26 December (Thursday): Central Bank of Egypt\u2019s Monetary Policy Committee meeting.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">EVENTS WITH NO SET DATE<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>2H 2024: Gov\u2019t to launch the <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/8f7fd9b9-a159-4b31-b974-f809d55f55d9\/egyptian-telecom-providers-suspend-e-wallet-fx-payments\" style=\"\">Cairo Ring Road BRT buses<\/a><\/span><span style=\"font-weight:400;\">.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>3Q 2024: <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid04Z7JWbGbYGqFTr8kF2XNgc5Dq2cUR3hn25JDryhDjLnPJkYgaKaqbwzQr6A4QgB2l\" style=\"\">Egyptian-Armenian Joint Committee.<\/a><\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">September 2024: Turkish-Egyptian Business Council meeting in Turkey.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>November 2024: <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid0LLPJRjsu6SZLwtRHuLmCQxoAZB3xaXVXH8aYkMSEH3ae4aW6JCZaPe5h5u9nKmcRl\" style=\"\">Egypt to host<\/a><\/span><span style=\"font-weight:400;\"> the World Urban Forum (WUF12).<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>End of 2024: The launch of the <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.sis.gov.eg\/Story\/192175\/Trial-Operation-of-the-Sokhna-El-Alamein-Matrouh-High-Speed-Train-Starts-by-the-End-of-this-Year?lang=en-us\" style=\"\">high-speed train<\/a><\/span><span style=\"font-weight:400;\"> line linking Ain Sokhna with Al Alamein City.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">2025<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">July 2025: The first operational trail of Egypt-KSA electricity interconnection line.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">EVENTS WITH NO SET DATE<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>2Q 2025: <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/ad18b775-3e22-4e6b-b4fc-9dd30f4b85ad\/abu-dhabi-ports-to-build-and-run%253cmark%253e-safaga-terminal%253c%2Fmark%253e,-cruise-ship-infrastructure\" style=\"\">Safaga Terminal 2<\/a><\/span><span> to start operations.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">2027<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>20 January-7 February: Egypt to <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/2f9a5a94-cc1c-4fc1-b8c6-7c02d15cae3b\/ramadan-kareem\" style=\"\">host the African Games<\/a><\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">EVENTS WITH NO SET DATE<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>End of 2027: Trial operations at the <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/52aa0e65-5b6f-4c84-aa49-70ac4152bb87\" style=\"\">Dabaa nuclear power plant<\/a><\/span><span style=\"font-weight:400;\"> expected to take place.<\/span><\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n","protected":false},"excerpt":{"rendered":"<p>Panamax vessels welcome here | Earnings galore | Mystery Chinese auto maker eyes Egypt | Mega ammonia offtake agreement rubber-stamped<\/p>\n","protected":false},"featured_media":640643,"menu_order":0,"template":"","categories":[],"tags":[],"class_list":["post-640642","issue","type-issue","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"e55053ee-2ea4-47b6-8a4b-0611436611a3","teaser":"Panamax vessels welcome here | Earnings galore | Mystery Chinese auto maker eyes Egypt | Mega ammonia offtake agreement rubber-stamped","photo_url":"https:\/\/ent.news\/2024\/1\/188.jpg"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Egyptian startups raised USD 88.7 mn in 1H 2024, driven by local, regional investors - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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